Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1887-02-05
THE PHOENIX NINE.
what a Number OF Experts Say-A
Chat with the President OF the
COMPANY.

A reporter called on Colonel E. S.
Jemison, president of the Phoenix
Mining Company, and asked for sucl
information as he had to give the pub
lie who might be interested in the
Phoenix stock.
"Yes," said Colonel Jemison, the
stock is very active on the Exchange,
and, to be candid, / can give you nc
good reasons for its fluctuations. The
stock has strong friends, who will trade
in it, and stand ready at all times to buy
all offered at s. or Sc. ! think for the
present it will vibrate between s. and
SIS, although new strike at the mine
might run it much higher. But" said
the Colonel, 81 am more interested III
what the mining engineers say of the
mine itself. | will show you the re-
ports that we have. Some are enthu-
siastic; others extremely conservative.
BY taking them altogether one should
arrive at very fair average. Here is
Professor Thomas F. Hopkins, a care.
full man, a personal friend of Cardinal
Gibbons, of Baltimore, and his est
mates are nearly 600, 600 tons of ore al
$40 per ton"
Professor William p Blake, an
engineer of high reputation, says: Il
am led to conclude that there is a very
large amount of free-milling gold ore
above the level of the creek, and that
it can be extracted at good profit by
having the proper plant. 1 believe
that the average of the rock, which can
be largely and cheaply mined, will be
as high as SO to the ton, and much OF
it will run between $40 and $l5. |
could so arrange that the cost of mining
and milling would not exceed $3.50 to
So per ton, probably much less. | be-
ieve it will return large profit if
properly handled
William Thomas, a mining captain
of long experience, said some time be-
fore the Shipman tunnel was started
that there was in sight about 500, 900
tons of ore averaging at least $40 per
ton.
"R. b. Todd, superintendent of the
mine, in his late report to me, estimates
1000, 900 tons of ore averaging Sl4.9S
per ton in sight, the main vein being
thirty feet wide.
professor Charles r. Fletcher, State
assayer of Massachusetts, reports !, 900,
600 tons of ore available for milling that
will pay so per ton. He advises the
erection of I20-stamp mill to crush 300
tons per day. Wood and water plenty.
Can run mill by water-power. Ore free
milling.
Professor GeOrgeW. Maynard, who
is acknowledged to be the peer of any
man in his profession, and who always
leans extremely toward the conservative
side, recently examined the mine. He
took particular pains with his assays,
putting the pulp through an eighty
mesh sieve to separate any particles of
free gold that might be in the ore, and
yet he reports vein twenty-three feet
wide, averaging 1920 per ton, or say
forty-eight feet, averaging 1913 per
ton, and he believes that a fifty-stamp
mill will pay $250,OO0 per annum to
begin with, more stamps to be added
as the mine is opened further.
1.-The originals of these reports, ="
added Colonel Jemison, care here for
the inspection of stockholders at all
times. l hope to see 200 stamps pound
ing away ON Phoenix rock very soon,
and see no reason why the profits
should not reach 81, 900, cooper aDnum.
Bear in mind that over 1900 tons of
our ore have been milled and have
yielded over s13 per ton in gold. We
have a virgin mine, and feel confident
that our dividend record for the next
ten years will compare favorably with
that OF any gold-mine now producing"
The Tribune.